KazakhTelecom increases profits 5.4-fold

Net profit of KazakhTelecom made 216 billion tenge ($1.4 billion) in January-September 2012, which is 5.4 times more than in the same period of 2011, KazTAG reports citing the company’s consolidated financial report. According to the document, the company earned 130 billion tenge ($866 million), which is 3.1 percent more than the same period last year. The total assets went 4.8 percent down since the beginning of the year and made 401 billion tenge ($2.7 billion); the equity capital decreased by 3.15 percent and made 274 billion tenge ($1.8 billion). KazakhTelecom is a leading communications operator in Kazakhstan. The company’s main shareholders include Samruk-Kazyna National Welfare Fund (51 percent), Bodam B.V. (16.87 percent) and Deran Services Limited (9.61 percent).